Ingalls & Snyder LLC Invests $210,000 in Pentair plc (NYSE:PNR)

Ingalls & Snyder LLC bought a new stake in Pentair plc (NYSE:PNR) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 2,150 shares of the industrial products company’s stock, valued at approximately $210,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Integrated Wealth Concepts LLC boosted its holdings in shares of Pentair by 1.9% in the third quarter. Integrated Wealth Concepts LLC now owns 9,814 shares of the industrial products company’s stock valued at $960,000 after acquiring an additional 187 shares in the last quarter. Investment Management Corp of Ontario boosted its holdings in shares of Pentair by 48.0% in the third quarter. Investment Management Corp of Ontario now owns 5,553 shares of the industrial products company’s stock valued at $543,000 after acquiring an additional 1,800 shares in the last quarter. HighTower Advisors LLC boosted its holdings in shares of Pentair by 3.8% in the third quarter. HighTower Advisors LLC now owns 48,035 shares of the industrial products company’s stock valued at $4,694,000 after acquiring an additional 1,774 shares in the last quarter. Hollow Brook Wealth Management LLC purchased a new stake in shares of Pentair in the third quarter valued at about $220,000. Finally, Holocene Advisors LP purchased a new stake in shares of Pentair in the third quarter valued at about $4,005,000. Hedge funds and other institutional investors own 92.37% of the company’s stock.

Pentair Stock Performance

NYSE:PNR opened at $108.76 on Thursday. The firm has a 50 day simple moving average of $101.60 and a 200-day simple moving average of $89.59. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.60 and a quick ratio of 0.91. The firm has a market cap of $17.97 billion, a PE ratio of 27.19, a P/E/G ratio of 1.94 and a beta of 1.20. Pentair plc has a 1-year low of $65.31 and a 1-year high of $110.71.

Pentair (NYSE:PNR) last released its earnings results on Tuesday, October 22nd. The industrial products company reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.02. Pentair had a net margin of 16.29% and a return on equity of 20.48%. The firm had revenue of $993.40 million during the quarter, compared to the consensus estimate of $988.53 million. During the same period in the previous year, the firm earned $0.94 earnings per share. Pentair’s revenue was down 1.5% compared to the same quarter last year. On average, equities analysts expect that Pentair plc will post 4.28 EPS for the current year.

Pentair Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 18th were paid a dividend of $0.23 per share. The ex-dividend date was Friday, October 18th. This represents a $0.92 annualized dividend and a yield of 0.85%. Pentair’s dividend payout ratio is currently 23.00%.

Insiders Place Their Bets

In other Pentair news, EVP Philip M. Rolchigo sold 3,588 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $99.67, for a total transaction of $357,615.96. Following the completion of the sale, the executive vice president now directly owns 19,232 shares in the company, valued at $1,916,853.44. The trade was a 15.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.28% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on PNR. TD Cowen raised their price objective on shares of Pentair from $95.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. raised their price objective on shares of Pentair from $106.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. The Goldman Sachs Group raised their price objective on shares of Pentair from $93.00 to $103.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. UBS Group raised their price objective on shares of Pentair from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Finally, Mizuho lifted their target price on shares of Pentair from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $106.38.

Pentair Company Profile

Pentair plc provides various water solutions in the United States, Western Europe, China, Eastern Europe, Latin America, the Middle East, Southeast Asia, Australia, Canada, and Japan. The company operates through three segments: Flow, Water Solutions, and Pool. The Flow segment designs, manufactures, and sells fluid treatment and pump products and systems, including pressure vessels, gas recovery solutions, membrane bioreactors, wastewater reuse systems and advanced membrane filtration, separation systems, water disposal pumps, water supply pumps, fluid transfer pumps, turbine pumps, solid handling pumps, and agricultural spray nozzles for fluid delivery, ion exchange, desalination, food and beverage, separation technologies in the oil and gas industry, residential and municipal wells, water treatment, wastewater solids handling, pressure boosting, circulation and transfer, fire suppression, flood control, agricultural irrigation, and crop spray in residential, commercial, and industrial markets.